Not pretty is the XOI daily chart which has dropped 100 points since the beginning of the month. There is a bounce point coming up around 1025. The weekly charf still looks okay and the index has bounced off the 34 day expotenial moving average every time its come down to this level holding the uptrend in tact. That average is sitting around 1000. I wonder given the action whether we are building some kind of intermediate term top...or perhaps we are headed into a trading range bounded by 900 at the bottom and 1150 at the top. Crude is up 33 cents in overnight trading.

Some after market action as Magellan Holdings...GP of Magellan Midstream prices its IPO. 22 milion shares at 24.50 per share.